Currently, the global manufacturing industry continues the trend of mild recovery; global economic growth is expected to have a positive impact. China’s macroeconomic data is slowing down amidst steady growth, and the “strong supply and weak demand” feature is still relatively obvious. From January to May, industrial added value of the technical textile industry increased; the production and sales maintained a good recovery trend. According to the research released by the China Nonwovens & Industrial Textile Association (CNITA), in the first half, the prosperity index of the technical textile industry reached 67.1, up 15.4 compared with the same period in 2023.

According to data from the National Bureau of Statistics, the output of nonwoven enterprises above designated size increased by 13% year-on-year from January to May. And the output of cord fabric (in tyres) saw year-on-year growth of 14%, with a slight decrease in sales due to the slowdown in domestic automobile production and sales in the first five months.

In terms of economic efficiency, the economic upturn of China’s technical textile industry continued to consolidate in the first five months, as reported by the National Bureau of Statistics. The operating income and total profits of enterprises above designated size grew by 6.9% and 32.1% respectively. The margin of operating was 3.9%, up by 0.7 percentage points year-on-year.

Figure: Key Economic Indicators of China’s Technical Textile Industry in Jan.-May, 2024

Source: National Bureau of Statistics

Table 1: Growth Rate of Major Economic Indicators of China’s Technical Textile Industry in Jan.-May, 2024 (Above Designated Size)

Source: National Bureau of Statistics

Table 2: The Exports of Main Products in China’s Technical Textile Industry in Jan.-May, 2024

Source: China Customs

Source: CHINA TEXTILE LEADER Express